Elon Musk Clarifies Political Spending Rumors: Denies $45 Million Monthly Donation to Trump

Elon Musk, the prominent entrepreneur behind Tesla and X (formerly Twitter), has refuted claims that he is pledging $45 million a month to support former President Donald Trump's campaign. Speaking with conservative commentator Jordan Peterson during an interview on Monday evening, Musk addressed these allegations, asserting that the media reports are unfounded.

During the interview hosted on his platform X, Musk responded to Peterson's query about his supposed substantial donations to Trump’s campaign. “What’s been reported in the media is simply not true,” Musk clarified. “I am not donating $45 million a month to Trump.” This statement directly contradicts the initial report by The Wall Street Journal, which has yet to issue a retraction or follow-up.

Musk acknowledged that while he has not committed to the rumored monthly donations, he has established a new super political action committee (PAC) called America PAC. This super PAC is designed to support the Republican candidate, enabling unlimited fundraising for independent campaign expenditures, such as advertisements and operational costs, without direct contributions to the campaign itself.

America PAC has garnered support from several notable figures in the tech industry, including Ken Howery, Antonio Gracias, Sequoia Capital’s Shaun Maguire, and the Winklevoss twins. The super PAC is partially led by Joe Lonsdale, co-founder of Palantir and a venture capitalist close to Musk.

Musk emphasized that America PAC is not intended to be a hyperpartisan entity. “I don’t subscribe to a cult of personality,” Musk stated, distancing himself from the MAGA movement. Instead, he aligns with the principle of “Make America Greater” (MAG), advocating for core values he believes the Republican Party embodies more effectively than the Democrats.

Musk’s relationship with Trump has been complex, having previously described the former president as a “bull in a china shop.” Despite his criticisms, Musk acknowledged Trump’s “great courage” in the face of adversity, particularly highlighting the incident on July 13 when Trump was shot by an attempted assassin.

During the interview, Musk elaborated on the core values he believes make America great, expressing his view that the Republican Party is more aligned with these principles. However, he made it clear that his support is based on ideological alignment rather than personal loyalty to Trump or his campaign slogan.